In the last couple of years, we've followed how many new listings happen in January. It's been a good indicator of what to expect for the Spring Selling Season! Here is some historical perspective (below). I included the stats from 2009, which was the last time the...
This is my 748th blog post of the year! (641 published and 107 drafts) Let's note how drastic things have changed since rates went up: NSDCC Detached-Home Sales, December 2012: 297 2013: 223 2014: 255 2015: 259 2016: 241 2017: 225 2018: 196 2019: 229 2020: 290 2021:...
The last Inventory Watch of 2022! How does it compare to where we started? Average List-Price-Per-SF of Detached-Homes Between La Jolla and Carlsbad Price Range First Week of January Last Week of December Difference 0-$1,500,000 $832/sf $737/sf -11% $1.5M - $2.0M...
Shadash said, "Right now the only thing propping up prices is limited supply." Indeed, and it's how the pricing got here in the first place. The demand for homes in the San Diego coastal regions has been higher then the supply for decades now, and it's probably not...
There are concerns that lower pricing will cause recent home buyers to be underwater - and potentially create another bubble to pop. A factor to consider when assessing the current market conditions is how quickly the affluent buyers have taken over the marketplace...
Yesterday a guy said he wasn't interested in anecdotal evidence and just wanted to see the data. But we were talking about the buyer demand in 2023, of which we have no data yet. In addition, the data we do have doesn't have to repeat itself or be a trend, because...
Next year, everyone will be talking about how mortgage rates in the 7s or 8s will be causing a lack of affordability, but I have bad news for those who still want to buy. There probably won't be many homes for sale. It will only take one or two headlines about the...
I've been hoping for 100+ sales per month the rest of the way this year. Currently, the October count is 108, so it should get up to around 120 sales by mid-November. Here are the monthly sales and pricing for 2022: NSDCC Detached-Home Monthly Sales & Pricing,...
The national bashing of the real estate market continues unabated, and I'm sure there are individual markets that are really feeling it. But real estate is local, so let's examine the facts. To get a sense of what has been happening since rates got into the 6s, let's...
Instead of using the median sales price as a gauge, let's look at the history of the median $/sf to help bring the size of the homes into the equation. Thoughts: I remember 2018 and 2019 being fairly flat and a bit of a struggle. Rates had been in the 3% to 4% range...
